Still worth to buy a Mining Rig?

Hello!

Do you guys think its still worth it to buy a mining gpu rig of a few thousand dollars and build in a few 1080's?
I mean, after a few months you would start making profit, but the Power Consumption, will this be so expensive with a home rig that you wont make any profit anymore?

Can mine with something cheaper and make just as much mining the right coin.

I would say no. I mined Bitcoin and alternate coins for quite a while a few years back, and even then it was really hard to make a fair amount of money with it.
However, if you can find the right coin and play your cards correctly you may be able to turn a profit. You essentially need to find a relatively new(er) coin or one that has a lower difficulty level that you believe to raise in value. Once the difficulty level has increased quite a bit, hold onto the coin and move onto another.
After you've developed a pretty good collection of several different coins, (and they have gotten to a suitable value) sell them. This is what I did a few years back and it worked out quite well.
There are several websites you can use to help you out with this, such as CoinWarz and Coinmarketcap. Furthermore, there are also mining pools that will automatically have your hardware go for the most profitable coin at that point in time, such as Multipool.

Cryptocurrency is a lot like the stock market. You need to have money to make money, and you're not going to strike it rich overnight unless you get UNBELIEVABLY lucky.

Whats your price?? Who has time to guess how much you want!

03-12-2018, 07:48 PM

Minzent Wrote: Hello!

Do you guys think its still worth it to buy a mining gpu rig of a few thousand dollars and build in a few 1080's?
I mean, after a few months you would start making profit, but the Power Consumption, will this be so expensive with a home rig that you wont make any profit anymore?

I believe the smart people alwas bu when people are selling so for that reason yes it's worth it!

Just look at the price of bitcoins a year ago to what they are worth today and then ask yourself that question...

hell no, Having rigs myself, was the worst decition ever, the cost of electricity is too high the ethereum value so low, you are going to take foerever to recover, well is impossible with these prices.

would say no. I mined Bitcoin and alternate coins for quite a while a few years back, and even then it was really hard to make a fair amount of money with it.
However, if you can find the right coin and play your cards correctly you may be able to turn a profit. You essentially need to find a relatively new(er) coin or one that has a lower difficulty level that you believe to raise in value. Once the difficulty level has increased quite a bit, hold onto the coin and move onto another.
After you've developed a pretty good collection of several different coins, (and they have gotten to a suitable value) sell them. This is what I did a few years back and it worked out quite well.

It's currently costing more to mine most decent coins than they cost to buy. But a friend noted that, if you buy the hardware and mine the coins, even if they go to zero you still have the rig you can use for other projects or just sell.

with the current downfall of bitcoin i would not recommend getting a mining rig.